I think this is a different Bayonetta, probably a grown Cereza from the first game (I mean, same hair, after all) or something else entirely. Could explain why she didn't feel like the character we know at all. Besides the fact that the actress isn't the same, her dances are nothing like Bayo's, she in general seems more tame, and her summons don't seem to be that bombastic this time around. 

Cereza is a Bayonetta as a child.

Suppossedly, when Cereza was returned to her timeline, an alternate universe was created. So, in other words, two Bayos. 

Is this like Bayonetta 1.5? she is wearing that red ribbon... which was cut in half in the teaser in 2017.... Makes me think why she had a short hair in 2 :P
well it is just a theory... a GAME THEORY

PUNCH!

Helps back up.

If ya need anything else just ask.

As soon as I saw the Platinum Games logo on the building, I was like: "This better be fucking 3..."

First I thought it would be that Project GG Giant Robot game they announced last year, then the Astral Chain fake-out totally fooled me, then when Bayo appeared I completely lost my shit haha.

As much as I enjoyed Astral Chain I would've been soooo pissed if it's sequel was shown before we even saw Bayo 3 haha.

I knew it was Bayo 3 from the first frame of the trailer.

Looks like they are mixing up the formula a bit. Bayo 2 felt too much like the original for me.

The game was announced 4 years ago. Game development sure does take a long time these days. I'm sure the pandemic didn't help.